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10/29/2014 5:25AM

Will Jetpacks Take Off Soon?

Investors have a chance to buy shares in New Zealand-based jetpack maker, Martin Aircraft. WSJ's Ramy Inocencio speaks with CEO Peter Coker about the company’s initial public offering in Australia in December.

This transcript has been automatically generated and may not be 100% accurate.

take a look at this this is the Martin Jetpack need in New Zealand the company this week announced explaining in Australian IPO in December ... to raise up to twenty two million US dollars it's pretty cool stuff ... tackling some of the gadgets that James Vaughan got to play with in the movies Iranian sensor for The Wall Street Journal ... digital network Peter Coker is CEO of the company that makes those jet packs right now in joins me from Sydney ... now Peter year Jetpac will retail for rounds ... two hundred thousand US dollars but the share will be a little bits of more affordable tummy about that ... so ... basically what we're doing is projected to rise as you say three two billion US dollars and twenty five million ... strained a loss of fifty cents a share ... I aam fo fifty million shares and very excited about it ... argh know what you going to use the money towards ... so with the love ... of Adam and living to its pre production production so far I is to ... use the money to progress cost to the commercial product that we intend to do with it off as older customers ... in the second quarter of two thousand and sixteen ... I understand you've also got some regulatory hurdles to get through the New Zealand you can fly a jet pack ... over there but so presumably you do one expand the markets to save United States of ... euro may be China ... what kind of hurdles do you ... need to fly over ... fasting is that we are interested Michael and profit with under the new guidance of an additional thirty knots that they gonna be the ... the busy for us to transfer across to many many other countries ... but we do recognize that that that is something new and as we engage with the rhythm StreetAuthority's ... in the potential cost of those ... countries ... I'll we purposely set up a team to the back or come station only ... see one extra hour or that tree requirements that may have for the jet at ... one pm I realized it's a relatively easy to license it doesn't MarketWatch in other countries ... aren't so ... zooming in to say the United States what next needs to happen for a recovered from those two things firstly Wuling gates with the ... Federal Aviation Authority ... aam outside of what we have the right now it's experimental aircraft ... have been successful because the because we actually have the ability to fly on the as well as bad ... as you deserve some interesting regulations around the Allmendinger ... um we are lucky we have a ... letter ... of ... intent with a ... a company that assists the problem of seven cents ... and will be working with them to produce a capability music backs ... it's the spring loaded noted to have discussions with the FA featured ... are in the de tails of the jet pack for those of us may be interested in buying one up how by ... how far does ago and how long does fly ... one that will be to see where a beatiful or ... so before Covanta sprout ... opt to three thousand feet ... you can fly if of around thirty minutes the thirty minutes is really restriction around him and a few of the week every right now ... so it's a tradeoff between fuel and wait ... the actual weight itself is a two hundred ... kilograms ... with the aid ... of one hundred and twenty grams on top of that ... I'm not that the people I ... will fuel what have you wish ... and flying a few thousand feet up in the air that of course of basic question about safety ... what's the safety aspect here in case something ... inadvertently hoping not to confirm the cuts out ... such testing of the week we built around the live attitude that it really Analysts ... sonar and we actually have a ... domestic pressures ... that could open up says ... Rick levels ... on top of that we have a ... machine is actually built around safety RyderCup fibers well so ... what ... is the worst happens that the Assembly comes at the back of ... our rights and I'm saying this is available come twenty sixteen so ... the look with that Peter Cropper CEO of a Martin Jetpack thanks much for joining